BioVie Inc., a clinical-stage company focusing on drug therapies for chronic debilitating conditions, reported its financial performance and business developments for the quarter ended March 31, 2024. Financially, the company experienced a net loss of $8.1 million, a decrease from the $15.0 million net loss in the same period the previous year. This reduction was attributed to decreased research and development expenses, lower selling, general, and administrative expenses, reduced interest expense, and a change in the fair value of derivative liabilities. The company's research and development activities included the completion of clinical trials for its drug candidate bezisterim (NE3107) for Alzheimer's and Parkinson's diseases, although the Alzheimer's trial faced challenges with protocol deviations and cGCP violations at certain study sites...Show More

BioVie Inc., a clinical-stage company focusing on drug therapies for chronic debilitating conditions, reported its financial performance and business developments for the quarter ended March 31, 2024. Financially, the company experienced a net loss of $8.1 million, a decrease from the $15.0 million net loss in the same period the previous year. This reduction was attributed to decreased research and development expenses, lower selling, general, and administrative expenses, reduced interest expense, and a change in the fair value of derivative liabilities. The company's research and development activities included the completion of clinical trials for its drug candidate bezisterim (NE3107) for Alzheimer's and Parkinson's diseases, although the Alzheimer's trial faced challenges with protocol deviations and cGCP violations at certain study sites. BioVie also received a clinical trial award of up to $13.1 million from the U.S. Department of Defense for a Phase 2b clinical trial assessing bezisterim for long COVID treatment, expected to commence by early 2025. For its liver disease program, the company is finalizing protocol designs for a Phase 3 study of BIV201 for treating ascites due to chronic liver cirrhosis. The company's future plans involve securing additional financing to support ongoing development and commercialization efforts.